EURUSD: A negative divergence is seen in RSI 14 period on a hourly chart. Price actions are diverging against the indicator. Immediate support of 50 period EMA is at 1.1513.
Our Preference: – Sell at 1.1570
Target – 1.1520
Stop loss – 1.1590
GBPUSD: The pair seems to take a mild correction before inching higher again. RSI-14 period started diverging against the price action in over bought region on a hourly chart.
Our Preference: – Buy at 1.2880-90
Target – 1.2972
Stop loss – 1.2840
USDJPY: USDJPY is hovering close to its downward sloping trend-line resistance. Slow Stochastic is at 84 above 80 mark, that mean in a over-bought territory and the indicator is about to give bearish crossover.
Our Preference: – Sell at 110.42
Target – 110.00
Stop loss – 110.57